Fed faces a ‘major challenge’, Oil industry courts GenZ, and more

House Speaker Nancy Pelosi suggested that Democrats might be willing to make more cuts to their stimulus proposal to seal a deal with Republicans and speed Covid-19 relief, then come back after the November elections with additional agenda items.

The U.S. central bank will be faced with a delicate balancing act if it opts to embrace a more relaxed view on inflation, according to a former governor of the Federal Reserve.

Speculation has been intensifying that the central bank could soon make an official commitment to ramp up its inflation target from the current 2%, where it has been for years.

Two years out of college, Leah Sanders was making as much as $19,000 a month servicing oil wells in Kuwait. After getting laid off in May by oil-field services giant Schlumberger Ltd., she’s back with her parents in Tennessee, earning $15 an hour helping out at her father’s construction business. She recently began considering switching careers and going to law school.

“I don’t think it’s going to recover as fast as I hoped it would,” said Ms. Sanders, 24. “Do you want to wait and go back to something that you spent two years training in? Or do you want to start over?”

The world's largest mining company is looking to reduce its exposure to coal as opposition to high-carbon energy sources takes hold.

BHP (BHPLF), which is based in Melbourne, Australia, said Tuesday that it will try to sell its 80% stake in the BHP Mitsui Coal joint venture, which owns two Queensland mines that produce lower-quality coking coal, which is used for steelmaking. It's also looking to offload its thermal coal assets in Australia and Colombia